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Global Energy Advisory – 18th July 2014

Pipeline Updates

A new pipeline is being proposed from North Dakota’s Bakken oil fields through 17 Iowa counties, ending in Illinois. The proposal for the 1,100-mile underground crude pipeline comes from Texas Energy Transfer Partners, which faces plenty of regulatory hurdles across states. The existing plan is to have the pipeline operational by the end of 2016. The “Bakken Pipeline”—as it is already being named—would have the capacity to transfer 320,000 barrels of crude oil per day.

Canada’s Enbridge is starting talks with the authorities in Alaska for the construction of a proposed $8 billion natural gas pipeline that could become a reality if plans for a much larger pipeline fall through. The larger pipeline — a $65 billion project by TransCanada Corp, Exxon Mobil, BP and Conoco Phillips — also includes an LNG plant for exports from Alaska. The smaller Enbridge pipeline would be 722 miles long and would carry natural gas from the North Slope to Fairbanks and other southern Alaskan communities. If approved, Enbridge is eyeing 2020 for operational launch.

Regulations and Compliance

New tax rates unveiled in Ireland for discoveries offshore will reduce monetary returns for firms and result in a reduction in overall investment in Irish waters, according to industry representatives. There is concern that the new fiscal regime could scupper development of viable Irish oil fields. Last week, the government…

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